Blockchain technology in the international supply chains

Abstract

The relevance of the study is that globalization and the integration of the international economy provide excellent opportunities for economic development through international trade and investment. It is necessary to make the product and services more competitive. One of the factors determining the competitiveness of trade is how quickly and how economically the goods can be delivered. The competition in the logistics industry is continually growing, which forces participants to improve their efficiency, improve quality and reduce costs. In these conditions effective IT solutions are vital tools for logistics and the ability to manage the logistics processes in the business environment in the context of globalization is a factor of competitiveness. Within the framework of this paper, the existing business processes of cargo delivery were described. The study of the process of interaction of international supply chain participants made it possible to identify the ineffectiveness of existing processes to understand what can be replaced and corrected with the introduction of blockchain technology. The main reason of inefficiency is the low level of business processes digitalization. The cases of existing blockchain projects for the logistics industry were investigated. The article provides possible cases of using blockchain for the logistics industry.